President Bola Ahmed Tinubu.
The new President of Nigeria, Asiwaju Bola Tinubu, has told Nigerians that the era of subsidy payment on fuel is gone.
Tinubu made the declaration on Monday in his inaugural speech at Eagle Square, after he was sworn in as Nigeria’s 16th President.
According to him, said the 2023 Budget made no provision for fuel subsidy, adding that subsidy payment is no longer justifiable.
He said his government shall instead, channel funds into infrastructure and other areas to strengthen the economy, adding that a “unified exchange rate” is guaranteed under his administration.
He also promised to remodel the economy to bring about growth and develop the Gross Domestic Product through job creation.
The President said the interest rate which is currently too high would be reviewed.
He also assured investors that multiple taxations would be reviewed to attract investments, even as he promised one million jobs in the digital economy.
Tinubu also vowed to rid Nigeria of terrorism and criminality.
“Security shall be top of our administration,” he said, adding that he will reform security architecture, invest more in security personnel, better training, and provide better equipment for security personnel.
The new President said he would end extreme poverty, make food more abundant, ensure inclusion for women and youths, and discourage corruption.
Edited by Dada Ahmed
(c) Channels TV.
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